Pinnacle Associates Ltd. Sells 1,410 Shares of Dycom Industries, Inc. $DY

Pinnacle Associates Ltd. reduced its stake in shares of Dycom Industries, Inc. (NYSE:DY) by 2.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 52,682 shares of the construction company’s stock after selling 1,410 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Dycom Industries were worth $17,801,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DY. Jones Financial Companies Lllp raised its stake in Dycom Industries by 4,626.1% during the first quarter. Jones Financial Companies Lllp now owns 2,174 shares of the construction company’s stock worth $331,000 after acquiring an additional 2,128 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Dycom Industries by 7.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 69,726 shares of the construction company’s stock worth $10,622,000 after acquiring an additional 4,985 shares in the last quarter. Invesco Ltd. raised its stake in Dycom Industries by 7.0% during the second quarter. Invesco Ltd. now owns 227,127 shares of the construction company’s stock worth $55,508,000 after acquiring an additional 14,891 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Dycom Industries by 73.1% during the second quarter. EverSource Wealth Advisors LLC now owns 161 shares of the construction company’s stock worth $39,000 after acquiring an additional 68 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in Dycom Industries by 8.9% during the second quarter. Cerity Partners LLC now owns 2,239 shares of the construction company’s stock worth $547,000 after acquiring an additional 183 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on DY. Bank of America increased their price objective on Dycom Industries from $365.00 to $475.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Dycom Industries in a research note on Wednesday, January 21st. JPMorgan Chase & Co. increased their price objective on Dycom Industries from $395.00 to $415.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Zacks Research upgraded Dycom Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Finally, UBS Group set a $475.00 price objective on Dycom Industries and gave the stock a “buy” rating in a research note on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $431.64.

Dycom Industries Stock Performance

Shares of NYSE:DY opened at $444.74 on Thursday. Dycom Industries, Inc. has a twelve month low of $186.42 and a twelve month high of $464.82. The firm has a market cap of $13.35 billion, a PE ratio of 46.33, a price-to-earnings-growth ratio of 0.99 and a beta of 1.46. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.61 and a current ratio of 2.74. The business has a fifty day moving average of $382.43 and a 200-day moving average of $363.71.

Dycom Industries (NYSE:DY) last announced its earnings results on Wednesday, March 4th. The construction company reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.12. Dycom Industries had a return on equity of 21.77% and a net margin of 5.07%.The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the company posted $1.17 earnings per share. The firm’s quarterly revenue was up 34.4% compared to the same quarter last year. Dycom Industries has set its Q1 2027 guidance at 2.570-2.90 EPS. On average, equities research analysts predict that Dycom Industries, Inc. will post 12.88 EPS for the current fiscal year.

Dycom Industries Profile

Dycom Industries, Inc (NYSE: DY) is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom’s services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom’s customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.